Troger, Beate

3 articles of this author have been cited in the European Press Review so far.

Tiroler Tageszeitung - Austria | 18/08/2011

Merkel and Sarkozy too fast for Eurozone

The proposals agreed on at the Franco-German summit in Paris are right, but they will overtax many euro countries, writes the liberal-conservative daily Tiroler Tageszeitung: "The direction the two biggest economies in the EU are taking is clear: as the vanguard of the entire EU, the monetary union should push forward the integration of the member states. This step is absolutely necessary to bring Europe out of the bitter debt crisis. ... Merkel and Sarkozy have thought far ahead. That's a good thing, because a new Europe needs strong visions. But just because the alpha wolves agree it doesn't mean all the euro countries are ready for more integration. Now is the time for deliberation. With the Treaty of Lisbon and mutual liability for public debts through the rescue package, the EU has developed by leaps and bounds in recent times. But in the fight against the debt crisis Europe must not strain itself and stumble over its own fast pace."

Ultimatum for debt-stricken state

Greece will receive additional financial help on the condition that it push through further measures. The country must finally show it can be relied on to help resolve the euro crisis, the liberal conservative daily Tiroler Tageszeitung demands: "It was high time the euro countries put Athens under pressure and demanded to see things start happening before further billions change hands. For too long the lender countries have allowed themselves to be led along by the nose with promises of austerity and reforms on paper. Sixteen months and no end of billions after the bailout, Greece is still dangerously close to the precipice. The euro countries have saved the country from bankruptcy and all we receive in thanks are ugly images of violence and protest. Corruption is still rife in Greece, and the government has not managed to slim down the state apparatus, which is bloated with hundreds of thousands of unsackable civil servants. The time has come to act. Greece has been given a last chance to show that it is a reliable euro partner. If it now fails to meet this ultimatum the country will be beyond help."

Painless regulations

The new rules for bonus payments offer banks too many loopholes, writes the daily Tiroler Tageszeitung: "In practice this is nothing other than the status quo cast in the form of an EU law. It is already normal practice in the real economy for most bonuses to be paid out in the form of shares. With its percentage formulations the new rule is more a loophole than a law. The original idea in Strasbourg was to cap benefits with a nominal upper limit. The EU Parliament failed in this attempt - understandably. Because there is no legal basis for telling the private economy how much it can pay its top managers. This guideline is too harmless to be effective. By contrast, top earners at the banks will be rubbing their hands in glee. Their intensive lobbying efforts have definitely paid off."